Council Regulation (EU) No 267/2012 gives effect to the measures provided for in Decision 2010/413/CFSP concerning restrictive measures against Iran and provides for, inter alia, the freezing of all funds and economic resources belonging to, owned, held or controlled by the persons, entities and bodies listed in Annexes VIII and IX to the Regulation.

In October 2013, the Council decided to amend Council Decision 2010/413/CFSP to provide for an adjusted listing criterion to include persons and entities evading or violating restrictive measures.

Further action by the Union is needed in order to implement these measures. The High Representative of the Union for Foreign Affairs and Security Policy and the European Commission propose to amend Regulation (EU) No 267/2012 accordingly.